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Answer:
$23900
Explanation:
Given: Cumulative Preferred stock is 5900 shares of 6% at $50.
Dividend paid in 2019= $11500
First lets calculate the value of preferred stock.
Preferred stock=
∴ Preferred stock= $17700.
Formula:
Dividend received by preferred stockholder=
⇒Dividend received by preferred stockholder=
⇒ Dividend received by preferred stockholder=
∴ $23900 dividend received by preferred stockholder in 2020.